Gaston acquires Calder building

Gaston acquires Calder Building
BY IRVING BEIMAN vated starting this summer,
News staff writer
Another important downtown improvement was assured today as Dr. A. G. Gaston, president of Citizens Federal Savings & Loan Association, said rapid growth of the association has brought about need for larger quarters and a more centrally located downtown facility.
Accordingly, Dr. Gaston said, the Booker T. Washington Insurance Co., also headed by him, has acquired the five-story Calder Building on the northwest corner of Third Avenue and 18th Street North.
Dr. Gaston said this building will be completely reno-
SOME OF THE property for the parking structure has been acquired, and negotiations are continuing for additional adjoining property.
Dr. Gaston said at this time it is uncertain whether the new facility would accommodate 300 or 400 automobiles at
26 one time.
31
33 "We believe these projects
30 will give Citizens Federal
30 Savings & Loan Association
10 one of the most modern' and
. 14 distinctive offices in, the Birm-
18 inrdiam district," Dr. Gasto
I said.
Turn to Page 12, Column 2
Ice p luejit, id liu Mrs. Ivy
Moore, collections officer.
with Citizens Federal occupying all of the first floor.
IN ADDITION, he said he is negatiating for property immediately west of the Calder Building, and expects to construct a six-level parking facility there to serve the Calder Building and its tenants and customers, as well as the public.
Dr. Gaston estimated cost of the two projects � acquisition and improvement of the Calder Building and the new parking facility�at more than $1 million.
Dr. Gaston said the Caller Building will be renamed Citizzens Federal Building.
vu r
Jana suosiad paignsw 01
� 4#
N INTERESTS ACQUIRE A I U BUILDING Will remodel and build six-level parking facility next door on Third Avenue
Gaston
Page*,
"NO EXPENSE will be ared to make this facility ual in beauty and utility to y other such institution in e city."
He also announced that Citi-
ns Federal, chartered in 1956 with a beginning capital of $350,000, ended 1967 with assets of more than $9 million and 13,000-shareholders.
Dr. Gaston said "1968 looks like a very good year and we expect the association's assets to pass the $10 million mark during the year."
DR. GASTON said Citizens Federal paid its shareholders $2,108,604 in dividends during 1967, a new record payment for the association.
The Calder Building fronts 100 feet on Third Avenue and
t0 feet on 18th Street. Dr. Gaston expects work of ' proving the Calder Building to be completed by January, 1969. He said local at chitects, local contractors and local materials will be utilized in
Cimprovement and parking jects. ., "WE HOPE TO start work
On the new parking facility sometime in 1968," he said.
Citizens Federal now occupies part of the three-story Gaston Building at Fifth Avenue and 16th Street North.
When the association occupies its new quarters at Third and 18th Street, the space vacated by Citizens Federal will be occupied by Booker T. Washington Insurance Co., which itself is enjoying steady growth and development.
The top four floors of the Calder Building, after improvements are completed, will be available for rental for commerical purposes, Dr. Gaston said.
CITIZENS FEDERAL is under supervision of the Federal Home Loan Bank System and accounts of savers are insured by the Federal Home Loan Bank Insurance Corp., Dr. Gaston said.
Dr. Gaston said he feels that Citizens Federal and other businesses which he has been responsible for establishing are proof that businesses. owned and operated by Negroes can be successful "if operated by men and women of honesty and integrity."
Directors of Citizens Feder-
al are Dr. Gaston, president and board chairman; A. D. Shores, vice president and general counsel; John J. Drew, vice president; Afton M. Lee Sr., vice president; B. M. Montgomery, vice president; Dr. John W. Nixon, vice president, and Louis J. Willie, secretary-treasurer.
S. O'Neal is executive vice president and manager of the association; H. J. Willis, vice president, and Mrs. Ivy L. Moore, collections officer.
Negro sough
in alleged
rape attemp
Birmingham police toe are seeking a young Ne man who allegedly attenn to rape a 70-year-old wo Wednesday afternoon c
downtown store parking then fled with her purs $80.
The woman told pot Negro was scared off approach of another
Jones described the er as being in his e and said that one parking lot attenda' identify him.

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Gaston acquires Calder Building
BY IRVING BEIMAN vated starting this summer,
News staff writer
Another important downtown improvement was assured today as Dr. A. G. Gaston, president of Citizens Federal Savings & Loan Association, said rapid growth of the association has brought about need for larger quarters and a more centrally located downtown facility.
Accordingly, Dr. Gaston said, the Booker T. Washington Insurance Co., also headed by him, has acquired the five-story Calder Building on the northwest corner of Third Avenue and 18th Street North.
Dr. Gaston said this building will be completely reno-
SOME OF THE property for the parking structure has been acquired, and negotiations are continuing for additional adjoining property.
Dr. Gaston said at this time it is uncertain whether the new facility would accommodate 300 or 400 automobiles at
26 one time.
31
33 "We believe these projects
30 will give Citizens Federal
30 Savings & Loan Association
10 one of the most modern' and
. 14 distinctive offices in, the Birm-
18 inrdiam district," Dr. Gasto
I said.
Turn to Page 12, Column 2
Ice p luejit, id liu Mrs. Ivy
Moore, collections officer.
with Citizens Federal occupying all of the first floor.
IN ADDITION, he said he is negatiating for property immediately west of the Calder Building, and expects to construct a six-level parking facility there to serve the Calder Building and its tenants and customers, as well as the public.
Dr. Gaston estimated cost of the two projects � acquisition and improvement of the Calder Building and the new parking facility�at more than $1 million.
Dr. Gaston said the Caller Building will be renamed Citizzens Federal Building.
vu r
Jana suosiad paignsw 01
� 4#
N INTERESTS ACQUIRE A I U BUILDING Will remodel and build six-level parking facility next door on Third Avenue
Gaston
Page*,
"NO EXPENSE will be ared to make this facility ual in beauty and utility to y other such institution in e city."
He also announced that Citi-
ns Federal, chartered in 1956 with a beginning capital of $350,000, ended 1967 with assets of more than $9 million and 13,000-shareholders.
Dr. Gaston said "1968 looks like a very good year and we expect the association's assets to pass the $10 million mark during the year."
DR. GASTON said Citizens Federal paid its shareholders $2,108,604 in dividends during 1967, a new record payment for the association.
The Calder Building fronts 100 feet on Third Avenue and
t0 feet on 18th Street. Dr. Gaston expects work of ' proving the Calder Building to be completed by January, 1969. He said local at chitects, local contractors and local materials will be utilized in
Cimprovement and parking jects. ., "WE HOPE TO start work
On the new parking facility sometime in 1968," he said.
Citizens Federal now occupies part of the three-story Gaston Building at Fifth Avenue and 16th Street North.
When the association occupies its new quarters at Third and 18th Street, the space vacated by Citizens Federal will be occupied by Booker T. Washington Insurance Co., which itself is enjoying steady growth and development.
The top four floors of the Calder Building, after improvements are completed, will be available for rental for commerical purposes, Dr. Gaston said.
CITIZENS FEDERAL is under supervision of the Federal Home Loan Bank System and accounts of savers are insured by the Federal Home Loan Bank Insurance Corp., Dr. Gaston said.
Dr. Gaston said he feels that Citizens Federal and other businesses which he has been responsible for establishing are proof that businesses. owned and operated by Negroes can be successful "if operated by men and women of honesty and integrity."
Directors of Citizens Feder-
al are Dr. Gaston, president and board chairman; A. D. Shores, vice president and general counsel; John J. Drew, vice president; Afton M. Lee Sr., vice president; B. M. Montgomery, vice president; Dr. John W. Nixon, vice president, and Louis J. Willie, secretary-treasurer.
S. O'Neal is executive vice president and manager of the association; H. J. Willis, vice president, and Mrs. Ivy L. Moore, collections officer.
Negro sough
in alleged
rape attemp
Birmingham police toe are seeking a young Ne man who allegedly attenn to rape a 70-year-old wo Wednesday afternoon c
downtown store parking then fled with her purs $80.
The woman told pot Negro was scared off approach of another
Jones described the er as being in his e and said that one parking lot attenda' identify him.